The Viet Nam International Trade Fair 2017 is among trade promotion activities organised on a large scale in the country and very important for foreign trade.

This was stated by Deputy Minister of Industry and Trade Tran Quoc Khanh at the opening ceremony of the fair, also known as the 27th Viet Nam Expo, held in Ha Noi today and will last until Friday, April 22.

“The expo brings practical opportunities to Vietnamese businesses in increasing export and expanding domestic market,” he said.

Viet Nam International Trade Fair 2017, with the theme “Strengthening Regional and International Economic Links,” has attracted more than 500 exhibitors from 16 provinces and cities in Viet Nam and 23 other countries.

Some 600 booths will display a diverse range of products, including industrial machinery and equipment, construction material, electronics and information technology, as well as beverages, healthcare products and services.

“In the context of global economic fluctuation, Viet Nam’s increasing engagement in free trade agreements has opened up great opportunities for domestic and international businesses. Therefore, the message of the fair’s organisers to Vietnamese and international businesses is to embrace opportunities to co-operate and co-develop,” Khanh said.

He added that this year, South Korean joins Viet Nam Expo as an honoured nation, under the manifest of the joint effort to realise the FTA signed in 2015 between the countries.

South Korean Ambassador Lee Hyuk in Viet Nam told Viet Nam News that South Korea is one of Viet Nam’s three largest trading partners and also the country’s top investor. The year 2017 marks the 25th anniversary of the diplomatic relationship between Viet Nam and Korea, laying the foundation for more trade and investment between the two countries.

After the bilateral free trade agreement was signed, the business environment in Viet Nam has been greatly improved, contributing to stabilising the operation of Korean enterprises in Viet Nam, Hyuk said.

“Trade relations between the two countries are strongly promoted, we hope that in the future, the Vietnamese Government will pay more attention to the improvement of investment environment in Viet Nam through administrative reforms promotion and customs simplification,” he said.

He added that Korea brings in 130 companies taking up 138 display booths in the expo. The companies present electrical and electronic products, cosmetics, smart toys and processed food. These products belong to the category that will have tariffs cut under the Viet Nam-Korea FTA signed in 2015.

During the expo, success of the “Korea-Viet Nam Design Sharing Pavilion,” which was visited by 2,000 customers in 2016 and where more than 600 deals were made, was highlighted. The booth displayed impressive designs to serve customers under a programme titled “Korea-Viet Nam Design Sharing,” coordinated by the Viet Nam Trade Promotion Department and the Korea Institute for Design Promotion.

At the fair, consultations are being provided free of charge to local companies on market demand survey, ideas development, branding and packing. — VNS